T. Rowe Price Investment Management Inc. Sells 185,520 Shares of Raymond James Financial, Inc. $RJF

T. Rowe Price Investment Management Inc. cut its stake in Raymond James Financial, Inc. (NYSE:RJF) by 5.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,457,716 shares of the financial services provider’s stock after selling 185,520 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Raymond James Financial were worth $555,275,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kingsview Wealth Management LLC lifted its position in Raymond James Financial by 586.7% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after acquiring an additional 17,407 shares during the last quarter. Algebris UK Ltd. acquired a new stake in Raymond James Financial in the fourth quarter valued at approximately $10,179,000. Fisher Asset Management LLC grew its holdings in Raymond James Financial by 6.9% in the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after purchasing an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after purchasing an additional 7,202 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its position in shares of Raymond James Financial by 40.8% during the fourth quarter. Wealthfront Advisers LLC now owns 24,725 shares of the financial services provider’s stock worth $3,971,000 after purchasing an additional 7,164 shares in the last quarter. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RJF has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. UBS Group reaffirmed a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. TD Cowen decreased their price target on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Barclays reissued an “overweight” rating and issued a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, BMO Capital Markets boosted their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $172.92.

Raymond James Financial Trading Down 1.6%

NYSE RJF opened at $156.18 on Friday. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66. The company has a fifty day simple moving average of $152.24 and a two-hundred day simple moving average of $156.59. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market cap of $30.44 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.22 and a beta of 0.94.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts forecast that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.